MCA prescribes norms for purchase of minority shareholding held in Demat form

MCA has made amendment to the Companies (Compromises, Arrangements and Amalgamations) Rules, 2016 where a new rule 26A has been introduced to provide process for purchase of minority shareholding held in Demat form. Under the norms, the company shall within two weeks from the date of receipt of the amount equal to the price of shares to be acquired by the acquirer, under section 236 of the Act and verify the details of the minority shareholders holding shares in dematerialised form.MCA has made amendment to the Companies (Compromises, Arrangements and Amalgamations) Rules, 2016 where a new rule 26A has been introduced to provide process for purchase of minority shareholding held in Demat form. Under the norms, the company shall within two weeks from the date of receipt of the amount equal to the price of shares to be acquired by the acquirer, under section 236 of the Act and verify the details of the minority shareholders holding shares in dematerialised form.taxmann.com Latest Statutory HappeningsRead More

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